Yozosoft Receives RMB 40 Mln in Joint Investment
Sina Tech, 8/30/12
Wuxi-based office software developer Yozosoft has announced that three companies - enterprise management software developer Yonyou Software (600588.SH) (formerly known as UFIDA), Wuxi Houze Guolian Investment Management and Jiangsu-based software and information solution provider Eazytec - have jointly invested RMB 40 mln in Yozosoft. Yozosoft did not disclose the stakes involved, but said the funds would be used for R&D and industrialization purposes.
Yozosoft saw sales of Yozosoft Office software grow 200% YoY in H1 2012, according to president Wang Yuanbing, and began establish overseas authorized reseller partnerships in Japan, India, South Africa, the Middle East, and Western Europe.
Established on November 27, 2009, Yozosoft has received funding from the Ministry of Industry and Information Technology's (MIIT's) initiative to promote development of core electronic components, high-end chips, and basic software products (the "Core, High, and Basic" initiative), and is primarily focused on the development of indigeneous IPR for basic software products.
Editor's Note: For more background on this topic, please see "Rumor: Yozosoft Wins RMB 6.5 Mln Government Funding" MD 3/13/12 issue.
Keywords: government initiative Houze Guolian Eazytec funding investment software office software IPR MIIT R&D 600588.SH Core High and Basic Yozosoft Yonyou enterprise software
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